Intel confirms it will cut a third of its workforce by the end of 2025
Intel, the renowned chipmaker, has announced plans to significantly reduce its workforce by the end of 2025. The company expects to have a core workforce of 75,000 employees, which is about a third less than the 108,900 people it employed at the close of the previous fiscal year. These job cuts are part of Intel's efforts to bring its non-GAAP operating expenses down to $17 billion this year and $16 billion by the end of 2026. Additionally, the company will abandon previously announced expansions in Germany, Poland, and Costa Rica, while also slowing the pace of its growth at a construction site in Ohio. Lip-Bu Tan, the newly appointed CEO, has been upfront about his plans to restructure and streamline the company's operations in an effort to turn around Intel's business following a period of financial challenges.
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